Venue Detail
Denver Broncos
Revenues From Sports Venues Pro Facilities Report
February, 2011
Denver Broncos
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13655 Broncos Dr Denver, CO 80112-4150 Phone: 303-649-9000 Fax: 303-649-9335 URL: www.denverbroncos.com
Owner
Pat Bowlen
League
National Football League AFC West
Venue
Invesco Field at Mile High, 1701 Bryant St, Denver, CO 80204 Owner: Metropolitan Stadium Facilities District Managed by: Team Built: 2001 Capacity: 72,000 Concessionaire: Centerplate Suite caterer: Epicurean Catering
Building sponsors
Clubs/Restaurants: Yes
Naming rights
Sold to: Invesco Funds Group Price: $120, 000,000 Term: 20 years Expires: 2021
Ticket prices
Season tickets range from $420 to $1,100 Single tickets range from $45.00 to $125.00
Attendance
2007 average attendance: 76,612 2008 average attendance: 75,509 2009 average attendance: 75,116
Luxury Suites
Quantity: 106 Price: $86,000 to $130,000 Seats: 14 to 18
Club seats
Quantity: 8,500 Term: 3 to 3 years Price: $2,130 to $3,695
Financing
The cost of a new stadium for the Denver Broncos grew $15.2 million over estimates because of changes and upgrades requested by either the team or the Metropolitan Football Stadium District. The team paid $9.55 million of the extra cost.
Among the changes were upgrades to luxury suites, building 18 additional suites, $4.6 million in environmental cleanup work and changes in the number of seats. The stadium district gets 10 percent to 15 percent of suite lease revenues, depending upon the size of the suite.
The public's share of the cost remains within the $335 million approved by voters. The team was responsible for the rest of the cost of the $400.8 million stadium.
The stadium was expected to cost $350 million with the Broncos on the hook for 25 percent. Taxpayers were limited to $75 million in cost overruns and after that, the team must pick up the tab. The team must also pay a $40 million buy-out of its lease at the former Mile High Stadium which was razed along with McNichols Arena to make room for the new stadium. The city gave the team the land for the stadium for a lease that keeps them in Denver for 25 years. The land goes back to the city at that time. Pct. public: 75
In 1999 voters approved funding for a new stadium for the Broncos in an election that saw owner Pat Bowlen pour $2 million into the effort. The election expanded and extended an existing sales tax to raise the money for the venue.
While the Broncos get most of the new stadium revenue, it paid the city $2.7 million a year through 2008 in lease payments.
Naming rights remain with the governments. Half the money goes to the Broncos for suites, signage and other benefits included with the naming rights package.
Before the 2003 season, the Broncos discounted club seats at Invesco Field by 22 percent. The 150 seats, on the outer edges of the club section, sold for $1,750 per season compared with $2,250 previously. The stadium has 8,500 club seats that are leased on three year contracts.
The move was intended to sell out the remaining club seats. Buyers got all the benefits given to those who paid full price. (Facilities, Financial, Football, NFL, Professional Sports)